For those of you who may have missed my post a couple of days ago about the legitamcy of scrypt.cc's mining operation, please see below:
"Scrypt.cc dont give a fuck about any of our opinions. You know why?
Allow me to explain:
They have a fixed amount of hashing power (currently at 500ghash + 350ghash not for sale). In the early days, back in early 2014, the whole purpose of the website and the whole business operation was for buyers to invest BTC to buy that hashing power. That way, they get their money back from their own capital investment and start to generate revenue from it too by charging a fee to those who have invested.
Makes sense so far right? Buy hardware, plug it in, sell the hashing power...pretty standard cloud mining stuff that I think even cryptodevil will agree with.
So in order for the business to succeed, they responded to support tickets in a timely manner, they were active on the forums (BCT and their own scrypt.cc forum) and just did the things you would expect them to do to keep their customers happy. Over the next 6 or 12 months or however long it's been, every single khash has been sold off. Admin are reaping huge rewards for themselves and for their investors. They now have no more hashing power to sell.
Still with me? This isn't exactly rocket science.
But here's the bit you ponzi screaming idiots seem to forget.
Why the fuck would they want any new investors now? Scrypt.cc dont give a fuck about new investors. New investors bring nothing to the table for them except more load on the server and more support tickets from useless fucks who get their account hacked and complain. Every new investor just buys existing khashes, the site owners receive zero profit from people trading khashes.
So as the site owner, why the fuck would you listen to fuktards on the forums wanting proof of mining? That will only encourage another 10,000 user accounts and support tickets that they have to administer."
Now, there is something I didn't address in my summary of why scrypt.cc is not a ponzi. A particular person on this forum, someone with some severe insecurities about himself, pointed it out for me. I say this because this person has such a burning desire to show the world their super-dooper large vocabulary and better-than-you arrogant style of writing that they must be trying to compensate for their inadequacies - ie they probably have a small appendage, among other things.
The point I didn't address was the 5% referral (after all, this is simply one of the biggest factors as to why Scrypt.cc is a ponzi /end sarcasm).
A referral system, as most are aware is a good way to encourage people to share the website to their friends, family and forums. Scrypt.cc has had this 5% referral system since Day 1 when they had millions of khashes to sell to investors. I'm sure this referral system helped get scrypt.cc to where it is today, ie not one single khash available for sale owned by the site admin.
Now, as you are all aware, the referral system is still in place which as someone suggested just screams ponzi becuase that's how scrypt.cc keep getting more and more investors to pay out the existing investors, right?
Wrong. Let's think about this for a moment because it seems this referral system is making all the difference about the sites legitimacy. Lets say I get 5 of my closest friends and family to throw USD$1000 each into scrypt.cc, because you know, everyone one I know just has a lazy thousand bucks lying around to invest in crypto despite the fact they know nothing about it.
At todays rates, USD$1000 buys approx 437,000 khashes. This would you approx $8.50 per day or $261 per month. With the MASSIVE 5% referral for signing someone up i would get approx $13 per month. Wow, so you're telling me that if i can just rope in 10 people to each put in USD$1000 each that would net me an extra $131 per month? Fuk me, I'm gonna quite my job and go recruiting people full time because every one i know will just jump at this opportunity. /end sarcasm again
So the referral system is just a legacy from the early days when they wanted investors, now scrypt.cc dont give a shit about new investors and the 5% referral bonus they give away because they are making a fortune with their mining hardware and the dirt cheap electricity they had for the first 14 months of their operation.
So once again, anyone with no balls can steer clear of this site and for the rest of us, stick some money in there and make the most of the early days of Bitcoin and crypto currencies in general.